Baytex Energy Corp. (OTCMKTS:BTEGF) Short Interest Down 18.5% in April

Baytex Energy Corp. (OTCMKTS:BTEGFGet Rating) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 3,503,000 shares, a drop of 18.5% from the March 31st total of 4,299,000 shares. Based on an average daily volume of 1,127,700 shares, the short-interest ratio is currently 3.1 days.

A number of equities research analysts have weighed in on BTEGF shares. National Bank Financial raised their price target on Baytex Energy from C$8.75 to C$9.50 in a research report on Friday. Stifel Nicolaus raised their price target on Baytex Energy from C$7.00 to C$8.25 in a research report on Monday. BMO Capital Markets raised their price target on Baytex Energy from C$8.00 to C$8.50 in a research report on Friday. National Bankshares upgraded Baytex Energy to a “buy” rating and set a $8.75 price target on the stock in a research report on Thursday, April 14th. Finally, CIBC raised their price target on Baytex Energy from C$7.00 to C$8.00 in a research report on Thursday, April 14th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Baytex Energy has a consensus rating of “Hold” and an average target price of $6.95.

Shares of OTCMKTS:BTEGF opened at $4.98 on Tuesday. The stock’s 50-day moving average price is $4.66 and its 200-day moving average price is $3.81. Baytex Energy has a 12-month low of $1.20 and a 12-month high of $5.71. The stock has a market capitalization of $2.83 billion, a P/E ratio of 2.07 and a beta of 2.72. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.63.

Baytex Energy (OTCMKTS:BTEGFGet Rating) last posted its earnings results on Thursday, February 24th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.69. Baytex Energy had a return on equity of 31.42% and a net margin of 80.01%. The company had revenue of $438.25 million for the quarter. As a group, research analysts predict that Baytex Energy will post 0.72 EPS for the current year.

Baytex Energy Company Profile (Get Rating)

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Texas, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. Its principal oil and natural gas properties comprise the Eagle Ford property in Texas, Viking and Lloydminster properties in Alberta and Saskatchewan, Peace River and Duvernay properties in Alberta.

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